China’s Chongqing Wansheng to shut methanol unit in mid-January

09 January 2012 09:27[Source: ICIS news]

SINGAPORE (ICIS)--?xml:namespace>China’s Chongqing Wansheng Chemical is planning to shut its 300,000 tonne/year methanol unit in the middle of January for scheduled maintenance, a company source said on Monday.

The unit will be shut for six weeks, the source said.

The decline in methanol prices is expected to slow down because of the decreased supply, market participants said.

Methanol prices in southwest China were at yuan (CNY) 2,500-2,600/tonne ($397-413/tonne) EXW (ex-works) on Monday, down by CNY50/tonne from 6 January, according to Chemease, an ICIS Service in China.